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The production techniques are technically efficient:

A. Bellow the lower ridge line

B. Above the upper ridge line

C. Between the two ridge lines

D. On the upper ridge line

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  1. 4.The Law of Diminishing Returns according to the modern view, applies to:
  2. If cross-elasticity of one commodity for another turns out to be zero, it means they are:
  3. The firm in cournot model:
  4. The point where the supply and demand curves intersect on a graph determines:
  5. In general, most of the production functions measure:
  6. If under perfect competition, in the short period, price does not cover the average cost completely,…
  7. In market sharing cartel model, cartel determines the shares of:
  8. Total fixed costs are:
  9. In the case of an inferior commodity, the income-elasticity of demand is:
  10. Opportunity costs are also known as:
  11. Government planners play a central role in allocating resources:
  12. While buying two goods X and Y with unequal prices, to maximize total utility from his income, a consumer…
  13. If a commodity sold under monopoly is got free of cost, then MC will be:
  14. The study of economic theory for the sake of certain objective is called:
  15. The optimal strategy for a player is termed as:
  16. In monopolistic competition, the firms face:
  17. A typical demand curve cannot be:
  18. If production increases under constant returns to scale, the cost will:
  19. Who wrote A Contribution to the Theory of Trade Cycle?
  20. When AC curve falls, MC curve falls:
  21. The production techniques are technically efficient:
  22. The pay-off matrix shows:
  23. Law of Diminishing Marginal Utility is practically untrue because:
  24. If the price of a product falls then quantity demanded tends to increase ceteris paribus because:
  25. Revealed Preference Theory was presented by:
  26. In monopoly, the relationship between average revenue and marginal revenue curves is as follows:
  27. Economic laws are:
  28. Formulation of an economic theory involves:
  29. With firms having cost differences under perfect competition, a firm, which earns normal profit in the…
  30. The average cost curve is a geometrical illustration of: